Estate sales are sometimes a necessary part of settling an inheritance process, but they are an area where experience goes a long way. If you have never done an estate sale before, here are some tips to get you started with an effective estate sale.
Know the Value of Items
The work starts before you get your sale off the ground. It involves getting the true value of items appraised. Anything you think may be valuable should be appraised or at least researched online to find a value estimate. An agency for estate sales can also help you find the best price points for the items. It would be a shame to let an item go for a fraction of its true value.
Be Aware That Crowds Start Early
Something you may not realize about estate sales is that those who are serious about shopping will often start very early in the morning; they want to be the first ones to get there, before the best items have been picked over. For that reason, it's important to be prepared as early as 7 am for a rush. Don't plan on having a lot of time to leisurely set up, or you'll miss some sales.
Have Plenty of Staff
There are a few reasons to have lots of staff (family members or friends) at your estate sale. The first is to streamline the process if someone has questions. If a buyer has to work too hard to get someone's attention, they might simply pass on a purchase they were lukewarm about. But if people are watching and pounce on the opportunity to provide knowledge, they might close more sales. But the second reason for having plenty of staff is for the social pressure that discourages theft.
Consider Providing Beverages or Snacks
People who hop from sale to sale may get hungry or thirsty on their drive. It's wise to offer some waters or other beverages and snacks to sell at your estate sale. You can bring in a nice side revenue from this that's unconnected to the earnings from the estate.
Know the Legal Implications of Earnings
Finally, don't forget to consult a family attorney for advice on what the earnings of your estate sale imply. That money belongs, first and foremost, to the deceased's estate. If there are multiple people who have a claim to that property through the will or through natural inheritance laws, you'll be in some hot water if you pocket the money and fail to consult a lawyer.
For more information, contact a business such as Remember When Estate Sales, LLC.